Country Garden Services (06098) and Hefu Huihuang (00733) both declined in early trading. As of press release, Country Garden Services fell 6.87% to HK$5.29; Hefu Huihuang fell 8.96% to HK$0.61.
The Zhitong Finance App learned that Country Garden Services (06098) and Hefu Huihuang (00733) both declined in early trading. As of press release, Country Garden Services fell 6.87% to HK$5.29; Hefu Huihuang fell 8.96% to HK$0.61.
According to the news, Country Garden Services and Hefuhuihuang jointly announced that on February 7, the parties to the strategic cooperation agreement signed an agreement to terminate the strategic cooperation agreement after considering (including) current market conditions, recent capital market fluctuations, changes in the contractors' expectations of the execution schedule of the underlying transaction, potential strategic and cooperation goals, and other factors, so the subscription will not proceed.
In November of last year, Country Garden Services and Hefuhuihuang announced the signing of a strategic cooperation agreement. Country Garden Property plans to acquire 71.64 million shares of Hefuhuihuang (equivalent to about 10.63% of Hefuhuihuang's issued share capital). Country Garden Property's Hong Kong shareholding ratio increased from about 25% to about 35.63%. The total cost of the sale of shares will be HK$115 million.